An empirical study of sample-selection bias in indices of commercial real estate

被引：44
|
作者：
Munneke, HJ [1 ]
Slade, BA
机构：
[1] Univ Georgia, Terry Coll Business, Athens, GA 30602 USA
[2] Brigham Young Univ, Marriott Sch, Provo, UT 84602 USA
来源：
JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS | 2000年 / 21卷 / 01期
关键词：
sample-selection bias; hedonic price indices; commercial office property;
D O I：
10.1023/A:1007861303058
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Real estate price indices based solely on samples of sold properties may not accurately represent the population of properties due to potential sample-selection bias. This study addresses this potential for sample-selection bias in the construction of commercial price indices within the context of the Phoenix area office market. The empirical analysis confirms the presence of sample-selection bias in the estimation of the total price equation. However, within this sample, the price indices generated after correcting for sample-selection bias do not appear significantly different from those that do not consider selectivity bias.
引用
收藏
页码：45 / 64
页数：20
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